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EUROB buying a lot more stock back on Iran conflict sell off.

BAMI initiation at NBF last week

I think it matters what the investment is. Orla is a gold producer. Commodity stocks are not buy and hold type investments. You have to sell them when they go up. Fairfax’s average cost on the common shares was C$4.80/share. They sold 25 million shares at $17.64. This was a 268% gain in ~2.5 years. Outstanding. They still have exposure to 76 million shares. And now that Foran is being taken out by El Dorado, they will have even more exposure to gold (when that deal closes). Fairfax sold RFP at the top of the lumber cycle. Stelco was sold at a crazy high price. Fairfax sold 25% of Orla and locked in a massive return. They have been making obscene money with their resource investments. I hope they keep monetizing some of them - locking in big gains. And redeploying the proceeds into other good opportunities - which is what they have been doing. Also, importantly, Orla has quickly become Fairfax’s 4th largest equity holding - it has become a very large position. Especially for a commodity play. Even after selling 25% of the position it is still the 4th largest holding (at about US$1.4B).